Goldman Sachs revises higher its forecast for USD/JPY, sees 155 in play

That seems to be the take from Goldman Sachs as they revise higher their 3-, 6-, and 12-month outlook for USD/JPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term to 155, 155, and 140 respectively (previously was 150, 135, and 125 respectively). The firm says that this is to reflect "a more persistent US hiking cycle than initially anticipated".

Whatever the case may be, the pair remains lockstep with the bond market and this week's US CPI data will be a crucial one for short-term sentiment at least.